Business, international

The Spanish state-owned company Bazan expects to enter in black numbers by the year 2000. The company is negotiating with the trade unions regarding restructuring. Some Pta 15,000mn will be invested and the staff will be reduced by 2,500 employees (33% of the staff) through retirements and voluntary redundancies. Labour reorganisation will cost Pta 53,000mn. Investments will be carried out following a share capital increase of Pta 3,950mn to Pta 19,000mn. Bazan, which made Pta 12,381mn losses in 1997 obtaining a Pta 71,867mn turnover, expects to raise it to Pta 113,000mn by the year 2002. The company aims at expanding its clients overseas in order to export 25% of its production by the year 2002. *

Comment:

Will reduce staff by 2,500 employees, or 33% of total workforce, through retirements & voluntary redundancies

Marks & Spencer prepara una nueva ampliacionde 4,000 millones

Article Abstract:

In order to finance its expansion plans, the Spanish subsidiary of the British retail chain Marks & Spencer could carry out a Pta 4,000mn capital increase. The company aims at doubling its presence in Spain in the middle term (now it owns seven centres). In October 14th 1998, a 2,800m2 establishment (valued in Pta 550mn) will be opened in the Parque Corredor shopping centre. A 4,000m2 establishment will be opened in Bilbao (Basque Country). Some Pta 5,000mn will be also invested in the largest centre in Spain, to be located in Barcelona.

VW Navarra aumenta capacidad el 10%

Article Abstract:

Spanish auto manufacturer VW Navarra is planning to increase production capacity from the current 1,300 to 1,500 vehicles per day at the Volkswagen plant facility in Landaben (Pamplona). The assembly and paint lines will need the largest expansion. A new sheet metal line will also have to be added. Following the increase, production is set to rise from the 275,000 forecast to 302,000 vehicles in 1998.

Comment:

Is planning to hike prodn capacity from current 1,300 to 1,500 vehicles per day at Volkswagen plant facility in Landaben, Spain